With global fintech funding falling sharply from the heights of 2021, the bubble seems to have burst, according to S&P Global Market Intelligence’s “Global Fintech Funding Trends” report.
In 2022, fintech funding dropped by a third to $63 billion, S&P said. The first half of 2023 was even worse, with venture capital funding of fintech startups falling to just $23 billion, 49% lower compared with the first quarter of 2022, it said. “These numbers mask a harsher truth: A small number of large deals, including Stripe’s $6.87 billion round, made the first-half results look better than they probably should,” S&P said.
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